Q2 FY26: Revenue up 11% YoY, but PAT dips 6% on margin pressure
BECTORFOOD · price
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On the reaction day the stock moved 3.7 pts less than Nifty Microcap 250 and 3.4 pts less than its Packaged Foods peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY26 consolidated revenue grew 11.1% YoY to Rs. 551.4 cr, driven by bakery segment up 16% and biscuits up 10%. However, EBITDA fell 1.7% to Rs. 69.3 cr with margins compressing to 12.6% from 14.2%. PAT declined 6.2% to Rs. 36.5 cr. H1 FY26 revenue rose 9.5% but PAT fell 9.4%. Management cited September trade destocking ahead of GST 2.0 changes and expects benefits going forward.
Mixed results — strong topline growth in both segments but profitability hit by margin pressure and destocking. Watch for margin recovery ahead.